Main responsibilities
My client, a well established asset management firm in the city centre, require a Head of Compliance on a contract basis.
The Head of Compliance (with responsibility for Anti-Money Laundering and Counter Terrorist Financing Legislation - MLRO) will report directly to the CEO and have two Compliance staff directly reporting to him/her. This is a Pre-Approval Controlled Function (PCF-15) and the appointment of any candidate is subject to Central Bank of Ireland approval.The Role:The Head of Compliance and MLRO is a member of the senior management team. Overseeing thesecond line of defence function, (s)he is responsible for leadership and performance of thecompliance team and function. The successful candidate will be responsible for co-ordinating allcompliance resources required to support the operational and regulatory demands of the business.
Principle Responsibilities:
- Be the primary source of excellence in Compliance within the business and provide expertise to internal operations, senior management and the Board of Directors;
- Develop and provide an advisory service for first line operational areas providing technical advice as necessary on BAU and ad-hoc issues;Ensure compliance obligations are fulfilled in respect of all regulatory requirements including MiFID, Suitability & Appropriateness, CPC, AML/CFT, CAR, CRD, Best Execution etc.;
- Advise all business units and management on applicable laws, rules, regulations and codes of practice to ensure compliance across all areas of the business;
- Develop, implement and maintain a risk-based compliance programme designed to support and monitor compliance across all areas of the Firm. Key tasks will include identifying compliance risks, assessing and testing related controls and introducing revised procedures as required;
- Overall responsibility for investigating, rectifying and reporting of compliance issues arising in the business;
- Stakeholder communication management – liaising with the Board, Sub-Committee, Senior Managers and employees to raise awareness of compliance risks and the actions taken to mitigate and manage same;
- Responsible for liaising with external parties such as the Central Bank of Ireland, Financial Services Ombudsman, the Data Protection Commissioner, Internal and External Audit etc.;
- Interpret new regulatory requirements, identify relevant compliance requirements and work with the business to ensure that appropriate procedures and controls exist to address these requirements;
- Supervision and completion of regulatory reporting to the Central Bank of Ireland and management of all regulatory communication;
- Providing compliance training for the purposes of Compliance requirements such as AML/CFT, Market Abuse, CAR, Suitability and Appropriateness etc.;
- Assist in developing and maintaining the risk management framework including the periodic review of the Firm’s ICAAP.
- Provide strategic input to senior management and the board on compliance related issues
- Responsibility for Anti-Money Laundering and Counter Terrorist Financing Legislation (MLRO)
Person Specifications
Qualifications:
- Minimum Competency for the specified function (per MCC) of adjudicating on complaints: QFA, LCOI, Barrister or Solicitor;
- Ideally educated to degree level;
- ACOI certified, either at Certificate Level or preferably, at Diploma Level (LCOI)
- Legal qualification preferable;
- Industry qualifications (Reg Stockbroker, QFA) desirable.
Experience & Attributes:
- A minimum of five years’ experience in MiFID compliance, within the stockbroking/investment management industry;
- In-depth Knowledge of Central Bank of Ireland rules and regulations including MiFID, Suitability & Appropriateness, CPC, AML/CFT, Client Assets, CRD, Best Execution etc.;
- Solid work ethic with an ability to work under pressure and deliver under tight deadlines;
- Strong inter-personal and communication skills that facilitate an ability to work with staff at all levels in the Firm;
- Ability to manage and develop a team of compliance professionals and ensure standards of best practice are met;
- Ability to challenge senior management and present strategic solutions
- Ability to manage conflict and mediate solutions in conflict situations
